 Market Momentum Builds as GTA Home Sales Rise  GTA home sales rose 8.5% year-over-year in September, with 5,592 transactions reported through TRREB’s MLS® System. New listings also increased by 4%, signaling growing market activity. Buyers are responding to lower borrowing costs and increased inventory by negotiating prices downward, encouraged by the recent interest rate cut and expectations of another by year-end. Despite the uptick, sales remain below long-term averages. A further rate cut could boost buyer confidence and stimulate economic activity, with each real estate transaction injecting over $80,000 into the economy.   Source: Toronto Regional Real Estate Board Rental Market Remains Strong The condo rental market continues to stabilize, with demand outpacing supply. Lease transactions rose faster than listings, which were up just 4%. Active listings dropped 7%, and average rents hit $2,668 — still down from previous years, but five-year growth remains positive at 3.6%.  Source: Toronto Regional Real Estate Board Condo Resale Market Under Pressure Resale condos are firmly in buyer’s market territory, with sales-to-new listings at 33% and months of supply at 6.7. Prices fell 5% year-over-year to $642,195 — the lowest since January 2021. However, long-term price growth remains solid at 5.6% annually. Presale prices are becoming more attractive, with the premium narrowing to 18%. As completions peak and future supply tightens, rent growth may accelerate. A further 5–7% price adjustment and additional rate cuts could revive investor interest and shift focus to end-users. PROPERTY TRENDSTownhouses: Sales up 39.2% YoY in Toronto’s core—space-conscious buyers are flocking in. Turnkey Homes: Modern, move-in-ready listings are selling fast; dated homes are lagging. Condos: Prices dipped, but inventory remains high—buyers have time and leverage Looking Ahead As 2025 winds down, the GTA housing market shows signs of stabilizing. Lower rates, steady employment, and renewed buyer confidence could help sales rebound toward historical norms in 2026. |
